l have taken a joint home loan and my mother is co-owner and co-borrower.She is not having any source to pay emi.I am paying all the emi . whether i am eligible for full deduction.Is there any rule/ act saying about it.House is self
occupied.what are the procedure to claim it.I could not see anything regarding these in it act 26
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Joint home loan
Replies (4)
you are eligible to claim only 50% of principal repayment and interest on housing loan
yes you can claim the full amount
You can claim the deduction of principal repayment upto Rs. 150,000 only for your self and another Rs.150,000 for your mother under sec 80C. also Interest repayment can be claimed upto Rs.200,000
if you are paying the full amount.
if you are paying the full amount.
Can it claim25:75 interest and principal amount if they overcome from tax
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